Facebook had a nice little day on the market Thursday. The company's stock closed up 29.61 percent at $34.36, but it hit its 52-week high todayat $34.88 which is the highest it has been since the firm's initial public offering in 2012. Since then, the stock has closed as low as $17.73, though Facebook has been able to pump a bit of confidence into its investors through a series of decent earnings reports.t

Most recently, on Wednesday, Facebook reported $1.81 billion in revenue beating the street and giving it a nudge from the $1.18 billion reported during the same quarter last year. Part of that is thanks to a renewed mobile strategy. Facebook on iOS, Android, Windows Phone, BlackBerry and even plain-ol' smartphones is littered with ads and CEO Mark Zuckerberg said Facebook will soon do the same with Instagram. It's a bummer for end users but a buck in the bank for Facebook.

Mobile is so important, in fact, that Facebook attributed a whopping 41 percent of its total advertising revenues – or $1.60 billion – to revenue generated from those ads.

That focus will likely only become more important for Facebook, probably even more so than Web revenue, as the company's expansion continues. Emerging markets are an important growth regio largely because Internet access in those areas often come in the form of smartphones instead of full-fledged computers.